This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks Finish Mixed After Bernanke Buzzkill, Spain Downgrade

Also of note , Bernanke wasn't as downbeat about the U.S. jobs picture as the markets had expected following last Friday's dismal nonfarm payrolls number, explaining that the "apparent" slowdown may have been "exaggerated" by seasonal adjustment and weather-related issues. He highlighted consumer sentiment as a bright spot, saying that despite mixed readings, sentiment is nevertheless "up noticeably" from levels late last year.

Federal Reserve Vice Chair Janet Yellen was more forthcoming about her thoughts on monetary easing, saying Wednesday night that "risk management considerations arising from today's unusual circumstances strengthen the case for additional accommodation," suggesting that the Fed could ramp up its bond purchasing program or hold off on interest rate hikes.

In other U.S. news, the Labor Department reported Thursday that weekly initial jobless claims for the week ended June 2 fell to 377,000 from the previous week's upwardly revised figure of 389,000. The decline was the first since April. Economists surveyed by expected the number of Americans filing unemployment claims for the first time to slide to 375,000.

"The underlying trend in claims is still upwards, but we expect it to turn back down again very soon," said Ian Shepherdson, chief U.S. economist at High Frequency Economics. "The economic story, we think, is that the gas price hit is reversing."

The FTSE in London settled up 1.2% and the DAX in Germany closed up 0.8% after the eurozone's strongest economy indicated some willingness to take on more balance sheet risk for some the peripheral countries.

The euro, however, slipped after Fitch downgraded Spain's rating to BBB with negative outlook.

The Hang Seng Index in Hong Kong settled up 0.9% and the Nikkei in Japan rose 1.2%

The July crude oil contract fell 20 cents to settle at $84.82 a barrel. August gold futures dropped $46.20 to settle at $1,588 an ounce.

The benchmark 10-year Treasury was up 2/32, lowering the yield to 1.657%. The greenback was off 0.2%, according to the dollar index, which compares the buck to a basket of currencies.
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BAC $15.58 -1.00%
LULU $53.95 -0.09%
AAPL $108.55 -2.00%
FB $90.76 -1.80%
GOOG $629.09 -2.10%


Chart of I:DJI
DOW 16,924.21 +11.92 0.07%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,763.9660 -27.1860 -0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs